Crexendo, Inc. (NASDAQ: CXDO – Get a rating) CEO Steven G. Mihaylo purchased 355,295 shares of the company in a trade on Tuesday, May 17. The shares were acquired at an average cost of $2.76 per share, with a total value of $980,614.20. Following the completion of the acquisition, the CEO now directly owns 10,949,688 shares of the company, valued at $30,221,138.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link.
Shares of CXDO traded at $0.10 in midday trading on Wednesday, hitting $3.10. 119 shares were traded, against an average volume of 20,801. The company’s 50-day moving average price is $3.25 and its 200-day moving average price is $4.18. Crexendo, Inc. has a 12-month low of $2.10 and a 12-month high of $7.20. The company has a market capitalization of $69.50 million, a price-earnings ratio of -21.86 and a beta of 1.45.
Crexendo (NASDAQ: CXDO – Get a rating) last released its results on Monday, March 21. The company reported EPS of $0.02 for the quarter, missing analyst consensus estimates of $0.03 per ($0.01). Crexendo had a negative return on equity of 0.86% and a negative net margin of 9.29%. The company posted revenue of $9.00 million for the quarter, versus analyst estimates of $8.84 million. In the same quarter last year, the company posted EPS of $0.37. As a group, equity research analysts expect Crexendo, Inc. to post earnings per share of 0.05 for the current year.
A number of hedge funds have recently changed their holdings of CXDO. Essex Investment Management Co. LLC increased its position in Crexendo by 62.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 165,780 shares of the company valued at $829,000 after acquiring an additional 63,860 shares during the period. Renaissance Technologies LLC acquired a new position in Crexendo in Q4 worth approximately $248,000. Janney Montgomery Scott LLC acquired a new position in Crexendo in Q1 worth approximately $88,000. Royal Bank of Canada acquired a new position in Crexendo in Q2 worth approximately $105,000. Finally, Vanguard Group Inc. increased its position in Crexendo by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 380,579 shares of the company valued at $1,382,000 after acquiring an additional 12,895 shares during the period. Hedge funds and other institutional investors hold 5.79% of the company’s shares.
CXDO has been the subject of a number of recent analyst reports. Lake Street Capital reduced its price target on Crexendo from $9.00 to $7.00 and set a “buy” rating for the company in a Tuesday, March 22 report. Zacks Investment Research downgraded Crexendo from a “hold” rating to a “strong sell” rating in a Monday report. Finally, B. Riley reduced his price target on Crexendo from $6.50 to $4.00 in a Friday, May 13 report. One equity research analyst rated the stock with a sell rating and three gave the company a buy rating. According to MarketBeat, Crexendo currently has an average rating of “Buy” and a consensus price target of $6.88.
About Crexendo (Get a rating)
Crexendo, Inc provides cloud communications, unified communications as a service, call center, collaboration, and other cloud business services for businesses in the United States, Canada, and internationally. It operates through two segments, Cloud Telecommunications and Web Services. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet Protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or the cloud; and resells high-speed Internet services.
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